Half of Brits Do Not Expect To Rely on Pension to Fund Retirement
08 August 2012 (PLANSPONSOREurope.com) - The stark challenge plan sponsors face with auto-enrolment has emerged with new research claiming almost half of UK people do not expect to use a pension to fund their retirement.
The research from Baring Asset Management reveals that nearly half (44%) of people do not currently expect to use a pension to fund their retirement. This equates to 15.7m people aged over 18 who are not yet retired. When asked to select which assets or investments they view as funding their retirement, a ‘pension’ was chosen by just 56% of people, highlighting a lack of effective pension planning by a significant number of UK adults.